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re: OBJ’s Rams bitcoin contract
Posted on 1/24/22 at 12:00 pm to TheeRealCarolina
Posted on 1/24/22 at 12:00 pm to TheeRealCarolina
quote:
It combines gambling, pyramid/MLM, naivety, novelty, and FOMO for a perfect storm of a zero sum financial game
Jeez even in non troll threads you're still a retard.
1
Posted on 1/24/22 at 12:02 pm to lsu777
quote:It's speculation, but I know what you mean.
its and investment
quote:It's not the same, because it's nearly impossible to form any kind of rational value analysis.
he is betting the market goes up over time, same as investing in stocks
Posted on 1/24/22 at 12:02 pm to Deactived
Bitcoin came on so strong and so fast that everyone felt the need to have an opinion on it. Many of those people have no idea what it is or how it works and where the novel technology actually lies with it, so you get takes like that.
Posted on 1/24/22 at 12:05 pm to msutiger
quote:
How in the world do people live in a state that thinks they are obligated to more than half oif your income.
That's federal and state combined. In California at $750,000 his tax rate would be around 12%. He would pay more in federal income tax at 37% because he is in the highest tax bracket. I'm sure he has access to a tax lawyer to help him navigate his taxes so he's not paying more than he should
Posted on 1/24/22 at 12:05 pm to LordSaintly
quote:
Capitalism and the stock market are zero sum. If one person gains, someone loses.
Absolutely. Crypto is great if you are looking to get a quick little boost of cash, but I would never put a large sum of funds into it and definitely is not a long term investment tool.
What’s really going to frick a lot of people over are those NFTs. That’s modern day tulips, but even less tangible. Might as well invest in Digimon.
Posted on 1/24/22 at 12:06 pm to lsu777
If he doesn't need any of it in the short term, then no story here. I know Gronk has said he doesn't touch any of his NFL salary.
Posted on 1/24/22 at 12:08 pm to Big Scrub TX
quote:
It's not the same, because it's nearly impossible to form any kind of rational value analysis.
that’s actually not all that true, you can value any network using Metcalfe’s Law which states that a network’s valuation is proportional to the number of interconnections between participants in the network. (Roughly equal to participants in the network squared). You should give this paper a glance: LINK
Some regard this as just a price model, I think it represents the inherent value in a network technology where the properties of the network give it an appeal and a use case to its users.
Posted on 1/24/22 at 12:14 pm to Ross
The problem with Bitcoin is that it will likely have no real use case besides being a store of value. Maybe that keeps the price somewhat stable but its days as being seen as a disruptive technology could be over so it won't keep going up bv big multiples just because it did.
I think Ethereum is even more risky because there are other platforms out there that do what it does faster and cheaper so justifying a $200 billion market cap may not be so easy.
And the problem with any individual crypto is that you are betting on a disruptive tech against other disruptive techs with more to come without a clear idea of the extent of adoption anyway. Plus they are ripe for governmental regulation around the world and I wouldn't be surprised if most are eventually declared securities.
I think Ethereum is even more risky because there are other platforms out there that do what it does faster and cheaper so justifying a $200 billion market cap may not be so easy.
And the problem with any individual crypto is that you are betting on a disruptive tech against other disruptive techs with more to come without a clear idea of the extent of adoption anyway. Plus they are ripe for governmental regulation around the world and I wouldn't be surprised if most are eventually declared securities.
Posted on 1/24/22 at 12:22 pm to Goldrush25
quote:The taxes are checks he has to write NOW.
If he doesn't need any of it in the short term, then no story here.
Posted on 1/24/22 at 12:23 pm to Diseasefreeforall
I think if it achieves the goal of being a decentralized non-sovereign store of value that is a victory, personally. I know many disagree with that and want it to be a currency, but that’s just not how I see Bitcoin fitting in with society in the future. If the adoption curve steadily continues to increase, the market cap should grow roughly parabolic using Metcalfe’s Law is a guide (although it probably will give diminishing returns as adoption increases instead of being purely parabolic), and eventually once it achieves steady state it should settle roughly into the inflation rate for people that don’t want to hold cash or equity positions. In such a reality they’d be some kind of analog to how we think of bonds now.
we shall see how it shakes out. I think many are far too dismissive of the novelty of being able to send value peer to peer over decentralized crypto rails but always a chance I think too highly of the tech as well.
we shall see how it shakes out. I think many are far too dismissive of the novelty of being able to send value peer to peer over decentralized crypto rails but always a chance I think too highly of the tech as well.
Posted on 1/24/22 at 12:32 pm to TheeRealCarolina
quote:
What’s really going to frick a lot of people over are those NFTs.
I agree here. I actively discourage people from investing in NFTs if they are new to crypto.
Posted on 1/24/22 at 12:37 pm to Ross
quote:
Many of those people have no idea what it is or how it works and where the novel technology actually lies with it, so you get takes like that
I hear ya. He's the board oweo so it's usually just a point and laugh
Posted on 1/24/22 at 12:54 pm to Deactived
That’s ok if he doesn’t like the deal he made or signed, he’ll just retire or sit out. Contracts don’t mean much in pro sports.
Posted on 1/24/22 at 1:29 pm to Deactived
quote:
Jones
I don’t need to own Bitcoin when I own your mental real estate.
Posted on 1/24/22 at 1:42 pm to TheeRealCarolina
I still am emotionally traumatized over not listening to Wikitiger in a 2012 thread on the OT, when Bitcoin had dipped back to an affordable $70. I thought about buying $500 that night, then time went on, and I never revisited the thought.
I'd like to think of Wiki in some Andy Dufresne on a boat in Zihuatanejo Mexico light..not living in current dystopian America.
I'd like to think of Wiki in some Andy Dufresne on a boat in Zihuatanejo Mexico light..not living in current dystopian America.
Posted on 1/24/22 at 1:48 pm to TheRoarRestoredInBR
You probably would have sold at $200 
Posted on 1/24/22 at 1:51 pm to hawgfaninc
50% income tax my god it is amazing people put up with that. Governments have been overthrown for far less than that
Posted on 1/24/22 at 1:51 pm to Deactived
Nah, not that cheap, but would've been a sucker for like 2K per coin when hit with hard dips and valleys. 
I wonder if Wiki is still all in, set it and forget it Buffet style, or took some major profits when it made it's 65K peaks?
I wonder if Wiki is still all in, set it and forget it Buffet style, or took some major profits when it made it's 65K peaks?
This post was edited on 1/24/22 at 1:59 pm
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